Global Forestry and Agriculture Drones Market to be valued over US$ 460 Million in 2018
Global Forestry and Agriculture Drones Market to be valued over USD 460 million in 2018, finds Bekryl Market Analysts.
Increased integration of high-tech devices in agriculture to mitigate the environmental risk is creating favorable ecosystem for agriculture drones worldwide. Drones can help in analyzing soil sample, moisture and nutrient sensors and weather feeds – thereby assisting farmers to large extent.
Globally, Asia Pacific will surpass North America sales by 2022 and will account for 64% of global sales by 2022. China will alone account for 60% global share by 2025. Asia Pacific has 61% of global population that is supported by 23% of agriculture land. Rising food security burden will further create good market opportunity in the region.
Some key trends from the global Forestry and Agriculture Drones market:
Trend#1: Global Forestry and Agriculture Drones Market is Highly Consolidated
The industry is consolidated with DJI Innovation Technology accounting for 65% of global share in 2017. Company primarily focuses on pricing and product level strategy to capitalize the majority of global share. Easy-to-carry and foldable drones will be in high demand among consumers.
Trend#2: New Entrants to Emerge in Global Forestry and Agriculture Industry
Adoption of drones in agriculture is increasing at a very high pace. It increased from 0.2% in 2014 to 1.3% of total addressable market in 2017 and will further increase to 18% by 2025. As such, there exists immense potential to generate very high revenue from the industry. Various companies funded largely by investors are emerging in the drones market. For example, recently, Micasense raised US$ 2 million from Parrot to increase its production turnover in U.S.
Trend#3: Fixed Wing based Drones to Dominate the Market
Fixed wing drones will account for majority of the global share. Currently, hardware sector account for nearly 68% of total revenue. Demand for fixed drones is primarily arising owing to its ability to cover high acreage area.
Some key global Forestry and Agriculture Drones Market Players are 3D Robotics Inc., DJI, AeroVironment, Inc., Trimble Navigation Ltd., and DroneDeploy.
Technological advancement will play a major role in overall sales. Agriculture Drones Market is highly profitable industry. As such, various major organizations are foraying in the market. In 2014, Google acquired Titan Aerospace to expand its product portfolio in commercial drones. Similar such developments will be visible in near future.